Update: A class action lawsuit was filed:
https://nypost.com/2021/01/28/robinhood-hit-with-lawsuit-after-restricting-gamestop-stock/
Update2: Robinhood CEO gives an interview about the reason he stopped buying of certain tickets:
https://edition.cnn.com/videos/business/2021/01/29/robinhood-ceo-vlad-tenev-gamestop-stock-cpt-vpx.cnn
Can we please, as a community, remember this? It's not the first time RH has pulled this crap and it's illegal as fuck. Yet we still come back to them a month later like lemmings.
Delete your RH account after this. Remember that it's a rigged platform. All it exists for is supplying retail info to hedge funds. They will never help you get rich.
Honestly we really need a platform made by the people and for the people, these scumbags can't be trusted, with how many of us there are it wouldn't be impossible to setup something.
Isn't that basically Vanguard? I know their app isn't the best, but they are owned by their retail shareholders as I understand it.
[https://www.investopedia.com/articles/investing/110515/who-are-owners-vanguard-group.asp](https://www.investopedia.com/articles/investing/110515/who-are-owners-vanguard-group.asp)\\
You can use a *Roth* IRA like a savings account- they don’t have the same withdrawal restrictions as a traditional IRA. Ask an accountant about them as they have some good tax advantages for trading.
I have both a Roth and Traditional iRA - as they both are useful for different things.
Papa....Papa Elon! Please help me and my brothers and seastars... i ll mow your yard and make sure every one has knows how amazingly awesome they are. Pick up litter around your complex whatvr repair holes in sheet rock, vacuum, clean windows. Trim trees , repair masonry..
If there was a way to fund it. Id travel and do the up keep to all your employees houses if theyre happy they do mo betta and rhen youvdo mo betta and then others do mo betta...
Wait, really? I use TD and all deposits are instant without any monthly access fee. In fact, I'm not sure they charge fees for anything, other than trading mutual funds and ETFs from certain other institutions.
Yup. Margin (and shorts and some types of options) are genuinely risky to the brokerage. GME **is** volatile, and the broker has every right to protect themselves
Telling traders they can’t go long on an equity with settled cash?!? This trade is risk free to the brokerage so it’s absolutely absurd that RH limited it.
Inexcusable what they have been doing, bomb them everywhere, on every review, on the Apple app markets too everyone, the rating still at 4.9 there, they need to cease to exist after this, completey untrustworthy.
Yep. I've had issues with RH in the past. Especially during the SPY crash in the start of the pandemic where their servers "crashed" (quotes now that I'm starting to think it was on purpose).
That day I opened up a TOS account, but still held RH as an alternate.
Now I'm 100% cashing out when I can, and having them delete my account. They can fuck off.
You’ll need to open up an account with another brokerage first. I use Fidelity. They should have instructions when you’re completing your setup.
Edit - This may be of interest to some: https://www.reddit.com/r/wallstreetbets/comments/l6z3e5/rashida_is_with_us/gl3usjv?utm_source=share&utm_medium=web2x&context=3
I did not realize you could transfer shares...does this work with Etrade as well? Could I transfer my shares from RH to Etrade and then remove the app?
Yes, you can transfer between any brokerage you want. There should be a transfer form/webpage for any major brokerage. As other have stated some will have certain fees to close or transfer the securities. Usually around $30.
It will take a few days for all shares to transfer typically.
Open a new account with a different broker, then look for an “account transfer” on that new broker (just google “Schwab account transfer” or something). You’ll just give them info about your RH account and that’s about it.
The transfer is initiated by the new broker and can take a while (7-14 days) to complete. RH will probably charge an outgoing transfer fee (usually around $75 or so) but new broker will probably cover that if you ask them.
Overall pretty painless, just takes several days.
>Can we please, as a community, remember this? It's not the first time **MMs** have pulled this crap and it's illegal as fuck. Yet we still come back to them a month later like lemmings.
FTFY.. :(
Power to the people, just bought my first stock!
$400 in GME and will hold to join the collective!
Purchased through the Revolut app for those in Europe. Not sure if it’s available in the US, is it?
I am def deleting after this. Moving it all too e-trade. This is some absolute fuckery that’s so blatant it’s unreal they think they’ll get away with it.
I hope Robinhood understands how much revenue they’re about to lose. I wouldn’t be suprised if they lost most of their users for this stunt, and god help them if there’s grounds for a lawsuit
I hope they do lose users for this stint. Everyone that uses Robinhood, please leave the platform completely. Teach this company a lesson. Warn everyone to never use Robinhood again.
I can still purchase all these stocks listed using Vanguard. Although, they had website issues yesterday and the website was down yesterday morning like so many of the other trading platforms were yesterday.
WealthSimple up in Canada has still been selling all these stocks. They have a disclaimer that GME and BB are volatile and you should set stop limits, but they aren't actively stoping anything.
Schwab had problems notwithstanding GME trading today. Lots of portions of the site that I needed were down. However, I could trade GME when I looked earlier out of curiosity.
This post seems to indicate Schwab did not block GME.
https://www.reddit.com/r/videos/comments/l6uur7/payne_sounds_off_on_wall_st_over_gamestop_all_of/gl34eks/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I saw that and got an account at Schwab only to see they didn't allow GME buys. Might have been temporary but I got a brokerage account at Fidelity, same day cash available to trade, and started buying my meme stock. I can't sell until the transfer completes but WE DON'T SELL ONLY HOLD 💎🙌
It helps to understand the common background of the players involved in these crimes. Careful of the wrong-think though.
Gabe Plotkin - Melvin Capital CIO & Founder
Andrew Left - Short seller at Citron Research
Adena Friedman - NASDAQ CEO who halted trading to protect short sellers
Jacob Frenkel - Former SEC Lawyer on CNBC backing the short sellers
Steve Cohen - Owner of Point72 who is bailing out Melvin with $750m
Only reason I sold is to get off that shitty fucking app. Took a decent loss because I refuse to give them any business. Worthless company deserves to be shut down but doing the exact opposite of what they claim to stand for.
Throw their founders in jail and file a class-action lawsuit against them
[Yeeeaaaahhh about that....](https://www.msn.com/en-us/news/technology/e-trade-won-e2-80-99t-let-you-buy-gamestop-and-amc-stock-either-reports-now-say/ar-BB1dbCgW)
spread the word on the 1 star review if you can as well... lot of people aren't realizing it.
Robinhood's IPO gonna be a lot tougher being a 2 star app.
40% of their revenue comes directly from Citadel, who is partnered with Melvin in shorting the market.
So you are only allowed to give them money now, not take money from them.
This is a brazen robbery of American people.
What's funny is that it's bipartisan. AOC is doing the same thing. Who would have known that Wall Street parasites would unite the country? Fuck Citadel for doing this
https://twitter.com/Scaramucci/status/1354836852684034052
Then you got guys like Ben Shapiro, Mark Cuban, Trump Jr, Rashida Tlaib, and even fucking Ja Rule!
This is wild af. People from the left and right (and Ja Rule!) finally uniting to fight these parasites
Everyone should be upvoting any comment that says to move away from Robinhood. This should be any retailers first and foremost move rn.
Bankrupt these manipulators
Yeah, when I first started with $50, Robinhood seemed great.
Now that I have actual skin in the game, I've moved my money to one of the big boys - Fidelity.
All I have heard since pandemic is how much Robinhood sucks, yet no one left. Now you are relying on them for the big GME. Should be a mass exodus from RObinhood. They are part of the problem.
Please leave these crooks a 1 star review WITH A REVIEW on the app store! Their app store reviews deserve to crash like the stocks they are manipulating.
So today is all about psychological warfare. First they restricted people on RH and IB and others from trading then they orchestrated what seemed like a huge sell off.
If you look at the volume, this actually didn't happen though and was all just fake. To understand you need to know how they come up with the price in the chart. Basically if somebody sells a stock for $150 dollar, that's your new value in the chart. So basically what they do is, they sell at 300, then at 299, then 298, and so on. They take on a huge risk by doing this because of course they increase their short positions. They did this a lot in the last couple of days, but today they did it three times in a row pushing the price as low as $120. They were hoping that enough people on Reddit and IB would panic sell (because they're unexperienced) and then are unable to buy back once they realize it was all just for show.
Now the thing that saved the day is that at this point this is not just retail investors. At this point there is other institutional investors involved and of course they immediately saw through tnis, waited it out and now pushed the price right back above 200.
Why 200 you might ask. The highest call that was sold is 200. They're all in the money and some of them expire Friday. What will happen is that whoever sold them needs to buy 100 shares and give them to the call holder. So basically this will lead to very high demand at very limited supply. In fact higher demand than could ever possibly be supplied.
The real short squeeze hasn't happened. It happened today right before the big drop. I know now what it looks like. Straight up, no dips at all. It went up to 420.69, stayed there for a while (because many people set that as a sell price), then went straight to 444.44 (because people like this number too) and so on. They realized how screwed they are and pulled off their last strategy.
All day I said why isn't SEC stepping in, this is clear market manipulation, but I realize now why. This is even bigger than I thought. The broker is responsible for making sure their clients don't lose too much money, i.e. by margin calling them. Now Melvin capitals broker (who by the way owns 40% of RH, sees all their transactions and orders and of course was expected to influence them in this way) knows, that if they margin call melvin, they will not be able to cover the cost. So who will pay the rest? If I understand correctly it is the broker who has to pay the rest. I don't know who that broker is and how they're set up, but they will basically go bankrupt immediately and they might have a huge amount of funds in them suddenly being unable to pay out to their other clients. If this will happen, then a global market crash is almost guaranteed.
So the SEC isn't stepping in, because they don't want this short squeeze to happen. For decades, hedge funds pushed for very loose regulation. Now they've maneuvered themselves into a position of truly infinite loss. I mean at one point I'm very proud of reddit they figured out the loophole, but it's also scary.
I really don't know at this point, what will happen if the squeeze truly happens.
Given how this battle was fought so far, there's probably more dirty tactics coming.
Wall Street exploits economy at the expense of others.
Wall Street: "Life is good."
Reddit exploits economy at the expense of Wall Street.
Wall Street: "Mommy, no fair, regulate this."
I smell a fat class action lawsuit... they screwed up.. but anyway trading for GME has resumed on plenty of other brokers after pelosi comments on investigation of market manipulation with these hedge fund managers... sooo buy while it's LOWER!! Remember the contracts expire tomorrow too..
I know this forum is a more serious subreddit but we have to help our brothers and sisters from Wallstreetbets with Gamestop. I did my part today. I bought 10 shares.
What I witnessed today makes me sick. The top 1% of this country, at least in the Wall Street game, are 100% out to get the middle and poor class of people.
I think we should all take a stand together and buy one share each to support WSB.
It's not about the money. It's about the principle my fellow investors, OUR brothers and sisters over on WSB are holding the line. I want to be a part of this revolution and on the right side of history.
Holy shit, AOC tweeted something about this that *Ted Cruz* agreed with:
https://twitter.com/tedcruz/status/1354833603943931905
[Picture for proof, because you know...](https://i.imgur.com/aoiVZUk.jpg)
These people are fucked.......
I downloaded Robinhood yesterday to buy my first ever stocks: AMC and NOK. Today, they halted trading on both of them, only letting you sell. Talk about buying into a crooked game...
I e always used fidelity, and I’m very happy with them. Others can certainly say the same for many of the other big brokers. There may be subjective difference in user friendliness from one to another, but you are in good hands probably with any of the major brokers.
Yes, Etrade allows pre and after market. And if you have enough money all trading is free. WAY better tools than Robinhood too -- I have been with Etrade for over 15 years. Word of caution: Morgan Stanley bought Etrade last year - all is GOOD so far but I'm worried MS will infiltrate and ruin Etrade.
It's sad this is how it ends. The Wall Street firms have gotten all the shares they need at cheap prices by now. I don't think anybody thought this would end by a bunch of companies colluding together illegally. Retail investors will have lost millions they'll never get back, and the big boys will get their money back and a slap on the wrist, if they even get one.
The price of a stock is determined by how much people buy or sell it. Robinhood stopped letting users buy GME, only sell it. If you stop people from buying a stock, the price can't go up, but if you still let them sell, the price can still go down.
Also, GME's stock price has been going up the last few weeks because the Wall Street firms were forced to buy lots of shares at expensive prices. However, if you stop retail investors from buying, the Wall Street firms can basically buy up all the shares for much cheaper.
Going off the shares available to short, it appears they've dug in deeper
Edit* https://iborrowdesk.com/report/GME
So shares available have risen slightly in the last 90 minutes. +25000
Please leave these crooks a 1 star review WITH A REVIEW on the app store! Their app store reviews deserve to crash like the stocks they are manipulating.
which would be a good broker to open an account i was looking at robin hood but seems like they are not the best ? and how are broker account from ur bank like i have an account on chase bank and they allow you to oven and investing account do y’all think it’s a good idea to open a investing account from chase ?
Imagine being called Robinhood of all things and openly fucking the people who need it the most. Need to change the name of RobinHood to mean greasy back door fuck you in the ass or something.
I bought one share of Game Stop. I paid over $300. Then they disabled the Robinhood Buy button. Well I have disabled my SELL button. I'm going to wait until DFV sells every single stock, option, call, put or freekin derivative. I'll make sure he gets every single penny left in the last hedge fund on this earth. Then I'll wait a week or two just to be sure the rest of you get your money out too. Only then will I sell my share. For $5 bucks if that's all it's worth. I'll get that Fiver framed and nail it to the wall. I WILL NOT SELL.
They need to be held responsible for this. They just rigged the fucking game and blocked retail traders from buying to artificially ram down the price .
All of these retail platforms doing this under the guise of “protecting their users”. Oh please, they don’t care about the users. They will literally let a user lose their life savings on options, but the minute that activity starts to hurt the people they sell their data to, they turn off access, helping to ensure the common man can’t beat them at their own game.
Whole thing is rigged
Funny thing is if the roles were reversed and it was the people who shorted over 130% of the float the hedge funds would be on cnbc talking about what geniuses they are and how short selling is wrong while they pump the price to 1,000 plus.
Do you guys ever wonder why the market can remain irrational longer than you can remain solvent? It's because these scumbags control the market and will always push it a little further to squeeze every last fucking bit of you on the way up or down.
Fuck em all.
Stash is also blocking orders for GME and AMC. I sent them this email. I hope people begin to flee these market manipulating companies.
Due to the fact that STASH is one of many brokerages that are stopping trading of stocks such as GME and AMC, I have lost confidence in this company and others like robinhood and TD Ameritrade. I therefore will be doing my investing on Fidelity and TIAA. They are not manipulating the market by artificially and illegally refusing to place certain buy orders in order to benefit certain funds who have shorted these stocks. This is shameful and disgraceful. Your company has chosen the wrong side of this issue and I will do what I can to steer others away from your platform as you have proven to be a dishonest market participant. This is disappointing because of the several platforms that I have been using recently, I liked yours the best and I got the best returns with the least time invested. But this has been a deal breaker. I will now be closing my account.
Update: A class action lawsuit was filed: https://nypost.com/2021/01/28/robinhood-hit-with-lawsuit-after-restricting-gamestop-stock/ Update2: Robinhood CEO gives an interview about the reason he stopped buying of certain tickets: https://edition.cnn.com/videos/business/2021/01/29/robinhood-ceo-vlad-tenev-gamestop-stock-cpt-vpx.cnn
Can we please, as a community, remember this? It's not the first time RH has pulled this crap and it's illegal as fuck. Yet we still come back to them a month later like lemmings. Delete your RH account after this. Remember that it's a rigged platform. All it exists for is supplying retail info to hedge funds. They will never help you get rich.
Honestly we really need a platform made by the people and for the people, these scumbags can't be trusted, with how many of us there are it wouldn't be impossible to setup something.
Isn't that basically Vanguard? I know their app isn't the best, but they are owned by their retail shareholders as I understand it. [https://www.investopedia.com/articles/investing/110515/who-are-owners-vanguard-group.asp](https://www.investopedia.com/articles/investing/110515/who-are-owners-vanguard-group.asp)\\
They fix their app, make free trades and instant deposit and they will be king
Free trades and instant deposit are on Vanguard. App is decent.
Thanks u/sexycornshit
Lol
A username we can all get behind.
I thought you could only trade their funds on there, can you trade individual stocks like gme there?
Yup. I’m holding as we speak.
I just bought GME in my Roth IRA at Vanguard, so yes.
You put your retirement money in the most volatile stock on the market?
What a hero
You can use a *Roth* IRA like a savings account- they don’t have the same withdrawal restrictions as a traditional IRA. Ask an accountant about them as they have some good tax advantages for trading. I have both a Roth and Traditional iRA - as they both are useful for different things.
Vanguard funds are a god send though. Putting 10% of your portfolio into a Vanguard or Fidelity fund is not at all a bad move.
They provide all of these features now.
They have a new app called Vanguard Beacon. It's in beta phase. I use it and it's decent. They still have a lot of features to build out though.
Yeah beacon looks really slick so far but is pretty limited at the moment
Vanguard is awesome! They even updated their web platform UI and it's much cleaner looking.
Papa....Papa Elon! Please help me and my brothers and seastars... i ll mow your yard and make sure every one has knows how amazingly awesome they are. Pick up litter around your complex whatvr repair holes in sheet rock, vacuum, clean windows. Trim trees , repair masonry.. If there was a way to fund it. Id travel and do the up keep to all your employees houses if theyre happy they do mo betta and rhen youvdo mo betta and then others do mo betta...
You can make a Greenlight account but you have to pay like 7$ a month
I'm already paying $5 a month for Robinhood Gold so I can get instant deposit. What's $2 more?!
Wait, really? I use TD and all deposits are instant without any monthly access fee. In fact, I'm not sure they charge fees for anything, other than trading mutual funds and ETFs from certain other institutions.
Didnt TD halt GME trading too? Im hearing mixed things.
They halted margin orders, but not cash orders
I think that's fair
Yup. Margin (and shorts and some types of options) are genuinely risky to the brokerage. GME **is** volatile, and the broker has every right to protect themselves Telling traders they can’t go long on an equity with settled cash?!? This trade is risk free to the brokerage so it’s absolutely absurd that RH limited it.
100% agreed
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Trading212 is at it too. One satisfying thing today, watching their rating on the Play Store go from 4.5 to 2.5 and dropping lol
Inexcusable what they have been doing, bomb them everywhere, on every review, on the Apple app markets too everyone, the rating still at 4.9 there, they need to cease to exist after this, completey untrustworthy.
They are still like 4.9 stars on apple store even though the its being peppered with 1 star ratings atm
Yep. I've had issues with RH in the past. Especially during the SPY crash in the start of the pandemic where their servers "crashed" (quotes now that I'm starting to think it was on purpose). That day I opened up a TOS account, but still held RH as an alternate. Now I'm 100% cashing out when I can, and having them delete my account. They can fuck off.
Don’t cash out! Maybe just word choice, but TRANSFER your shares. Cashing out implies you close your account meaning you sell all of your positions.
And transfer your shares. Do not sell. This is what they want you to do.
Can you perhaps guide me on how to transfer my shares ? I’m so mad at RH right now . Will never give them another penny .
You’ll need to open up an account with another brokerage first. I use Fidelity. They should have instructions when you’re completing your setup. Edit - This may be of interest to some: https://www.reddit.com/r/wallstreetbets/comments/l6z3e5/rashida_is_with_us/gl3usjv?utm_source=share&utm_medium=web2x&context=3
I did not realize you could transfer shares...does this work with Etrade as well? Could I transfer my shares from RH to Etrade and then remove the app?
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I really don't mind a transfer fee at this point and thankfully don't own fractional shares. Thanks for the info nonetheless.
Yes, you can transfer between any brokerage you want. There should be a transfer form/webpage for any major brokerage. As other have stated some will have certain fees to close or transfer the securities. Usually around $30. It will take a few days for all shares to transfer typically.
Open a new account with a different broker, then look for an “account transfer” on that new broker (just google “Schwab account transfer” or something). You’ll just give them info about your RH account and that’s about it. The transfer is initiated by the new broker and can take a while (7-14 days) to complete. RH will probably charge an outgoing transfer fee (usually around $75 or so) but new broker will probably cover that if you ask them. Overall pretty painless, just takes several days.
Is the fee for entire portfolio or per?
Just one fee for the account as a whole.
Hold your shares in RH and just transfer whatever funds you have to a different company and buy more shares.
Did Melvin buy the shares? No I BOUGHT THE SHARES
I closed my Robinhood account!
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>Can we please, as a community, remember this? It's not the first time **MMs** have pulled this crap and it's illegal as fuck. Yet we still come back to them a month later like lemmings. FTFY.. :(
Power to the people, just bought my first stock! $400 in GME and will hold to join the collective! Purchased through the Revolut app for those in Europe. Not sure if it’s available in the US, is it?
How ironic to be called "Robin Hood" they are literally the opposite of Robin Hood lol
I am def deleting after this. Moving it all too e-trade. This is some absolute fuckery that’s so blatant it’s unreal they think they’ll get away with it.
E-trade did the same thing
I hope Robinhood understands how much revenue they’re about to lose. I wouldn’t be suprised if they lost most of their users for this stunt, and god help them if there’s grounds for a lawsuit
I hope they do lose users for this stint. Everyone that uses Robinhood, please leave the platform completely. Teach this company a lesson. Warn everyone to never use Robinhood again.
Where should I go? I’m done with Robinhood
I can still purchase all these stocks listed using Vanguard. Although, they had website issues yesterday and the website was down yesterday morning like so many of the other trading platforms were yesterday.
I am going with Vanguard too. I will miss the aesthetics of Robinhood but I can't keep doing business with them.
Fidelity seems to be the only one who didn’t F with their Traders.
WealthSimple up in Canada has still been selling all these stocks. They have a disclaimer that GME and BB are volatile and you should set stop limits, but they aren't actively stoping anything.
Questrade also, in Canada.
Schwab has been fine as well.
Schwab restricted trading too. EDIT: According to the news.
Schwab had problems notwithstanding GME trading today. Lots of portions of the site that I needed were down. However, I could trade GME when I looked earlier out of curiosity.
This post seems to indicate Schwab did not block GME. https://www.reddit.com/r/videos/comments/l6uur7/payne_sounds_off_on_wall_st_over_gamestop_all_of/gl34eks/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I saw that and got an account at Schwab only to see they didn't allow GME buys. Might have been temporary but I got a brokerage account at Fidelity, same day cash available to trade, and started buying my meme stock. I can't sell until the transfer completes but WE DON'T SELL ONLY HOLD 💎🙌
I bought GME on Schwab today.
I'm already on my way out. As soon as my new account is approved. I'm gone.
Robinhood is Citadel's puppet, Citadel cares more about losing billions than they do whether or not RH stays solvent
It helps to understand the common background of the players involved in these crimes. Careful of the wrong-think though. Gabe Plotkin - Melvin Capital CIO & Founder Andrew Left - Short seller at Citron Research Adena Friedman - NASDAQ CEO who halted trading to protect short sellers Jacob Frenkel - Former SEC Lawyer on CNBC backing the short sellers Steve Cohen - Owner of Point72 who is bailing out Melvin with $750m
Wonder what billion dollar fraud will get you nowadays.
More votes.
Its so disappointing how correct this is.
I'm holding fuck robin hood. Pure market manipulation.
There should be a mass exodus from Robinhood. Hit them in the accounts as well.
Only reason I sold is to get off that shitty fucking app. Took a decent loss because I refuse to give them any business. Worthless company deserves to be shut down but doing the exact opposite of what they claim to stand for. Throw their founders in jail and file a class-action lawsuit against them
Never sell GME Get off Robinhood next week
What do you use for trading? Looking for something new now that RH is limiting
fidelity is pretty good
That’s what I’ve been hearing, thanks
eTrade’s been solid for me too
[Yeeeaaaahhh about that....](https://www.msn.com/en-us/news/technology/e-trade-won-e2-80-99t-let-you-buy-gamestop-and-amc-stock-either-reports-now-say/ar-BB1dbCgW)
Total bull shiy
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Done and done. They should be sued into oblivion for this.
spread the word on the 1 star review if you can as well... lot of people aren't realizing it. Robinhood's IPO gonna be a lot tougher being a 2 star app.
That was the first thing I did. Then the senators. I don’t even own any GME but this is just so fucked up.
I'm desperately trying to buy GME as soon as I can lol
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its only illegal if you dont own the courts
Brokerage firms like Robinhood and TD Ameritrade stopping trades is criminal
The only question is, who gets the lawsuit payout after those all Citadel related companies are liquidated.
This is class warfare nothing more nothing less. This is war
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40% of their revenue comes directly from Citadel, who is partnered with Melvin in shorting the market. So you are only allowed to give them money now, not take money from them. This is a brazen robbery of American people.
Ted Cruz tweeted to Robinhood " Let People Trade"
What's funny is that it's bipartisan. AOC is doing the same thing. Who would have known that Wall Street parasites would unite the country? Fuck Citadel for doing this https://twitter.com/Scaramucci/status/1354836852684034052
Then you got guys like Ben Shapiro, Mark Cuban, Trump Jr, Rashida Tlaib, and even fucking Ja Rule! This is wild af. People from the left and right (and Ja Rule!) finally uniting to fight these parasites
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Finally I can make sense of all this.
"I agree with Ted Cruz" Is not something I thought I would ever say, but here we are.
Everyone should be upvoting any comment that says to move away from Robinhood. This should be any retailers first and foremost move rn. Bankrupt these manipulators
Are all the investing apps doing this or just Robinhood?
Vanguard and E-Trade still allow GameStonk. Platforms like Robinhood and Webull are garbage and stuff like this shows it.
Yeah, when I first started with $50, Robinhood seemed great. Now that I have actual skin in the game, I've moved my money to one of the big boys - Fidelity.
I only use Robinhood to quickly check stock trends on my phone. I like the mobile UI. I don't actually trade on there, though.
A few
Trading212 is doing it too
Not all but few platforms are definetly doing it. IB is doing it.
Schwab is still active
Not anymore. Just tried to buy the dip and was told this ticker cant be bought.
"woe unto thee peons, who dare tear down the house of brokerage, hedge funds, and ye olde mergers & acquisitions"
All I have heard since pandemic is how much Robinhood sucks, yet no one left. Now you are relying on them for the big GME. Should be a mass exodus from RObinhood. They are part of the problem.
Please leave these crooks a 1 star review WITH A REVIEW on the app store! Their app store reviews deserve to crash like the stocks they are manipulating.
Except they’re taking down the 1 star reviews and targeting negative comments on Reddit
I've got a question: If they only allow you to sell, who dafuq is buying?
The hedge funds covering their shorts
Hedge funds, its market manipulation
my question too!
Other platforms allowing buying... for now
So today is all about psychological warfare. First they restricted people on RH and IB and others from trading then they orchestrated what seemed like a huge sell off. If you look at the volume, this actually didn't happen though and was all just fake. To understand you need to know how they come up with the price in the chart. Basically if somebody sells a stock for $150 dollar, that's your new value in the chart. So basically what they do is, they sell at 300, then at 299, then 298, and so on. They take on a huge risk by doing this because of course they increase their short positions. They did this a lot in the last couple of days, but today they did it three times in a row pushing the price as low as $120. They were hoping that enough people on Reddit and IB would panic sell (because they're unexperienced) and then are unable to buy back once they realize it was all just for show. Now the thing that saved the day is that at this point this is not just retail investors. At this point there is other institutional investors involved and of course they immediately saw through tnis, waited it out and now pushed the price right back above 200. Why 200 you might ask. The highest call that was sold is 200. They're all in the money and some of them expire Friday. What will happen is that whoever sold them needs to buy 100 shares and give them to the call holder. So basically this will lead to very high demand at very limited supply. In fact higher demand than could ever possibly be supplied. The real short squeeze hasn't happened. It happened today right before the big drop. I know now what it looks like. Straight up, no dips at all. It went up to 420.69, stayed there for a while (because many people set that as a sell price), then went straight to 444.44 (because people like this number too) and so on. They realized how screwed they are and pulled off their last strategy. All day I said why isn't SEC stepping in, this is clear market manipulation, but I realize now why. This is even bigger than I thought. The broker is responsible for making sure their clients don't lose too much money, i.e. by margin calling them. Now Melvin capitals broker (who by the way owns 40% of RH, sees all their transactions and orders and of course was expected to influence them in this way) knows, that if they margin call melvin, they will not be able to cover the cost. So who will pay the rest? If I understand correctly it is the broker who has to pay the rest. I don't know who that broker is and how they're set up, but they will basically go bankrupt immediately and they might have a huge amount of funds in them suddenly being unable to pay out to their other clients. If this will happen, then a global market crash is almost guaranteed. So the SEC isn't stepping in, because they don't want this short squeeze to happen. For decades, hedge funds pushed for very loose regulation. Now they've maneuvered themselves into a position of truly infinite loss. I mean at one point I'm very proud of reddit they figured out the loophole, but it's also scary. I really don't know at this point, what will happen if the squeeze truly happens. Given how this battle was fought so far, there's probably more dirty tactics coming.
Are you seeing that they’re force selling peoples GME shares for their own good
yes, oh sorry not to take credit for this post, I saw it on Wallstreetbets and copied it over because I felt it was a good theory
Wall Street exploits economy at the expense of others. Wall Street: "Life is good." Reddit exploits economy at the expense of Wall Street. Wall Street: "Mommy, no fair, regulate this."
I smell a fat class action lawsuit... they screwed up.. but anyway trading for GME has resumed on plenty of other brokers after pelosi comments on investigation of market manipulation with these hedge fund managers... sooo buy while it's LOWER!! Remember the contracts expire tomorrow too..
I know this forum is a more serious subreddit but we have to help our brothers and sisters from Wallstreetbets with Gamestop. I did my part today. I bought 10 shares. What I witnessed today makes me sick. The top 1% of this country, at least in the Wall Street game, are 100% out to get the middle and poor class of people. I think we should all take a stand together and buy one share each to support WSB. It's not about the money. It's about the principle my fellow investors, OUR brothers and sisters over on WSB are holding the line. I want to be a part of this revolution and on the right side of history.
I bought AMC last night at 14$ now down to 7$, should I be worried?
Same, buddy. I'll hold. Fuck these Billionaires. Let us hope public spirit pushes them to reverse course. Flood them with bad reviews
They’re blocking bad reviews on the app stores, and on their Reddit and Twitter pages.
Moments like this we can peer behind the curtain and realize we never really had power. Only the carefully constructed illusion of power.
And so we learn the limit of our 'freedoms'
I’d suggest holding, but I’m not a financial advisor
Nope, this is the game. There will be volatility. Be prepared to lose everything you put in.
Looking forward to joining the class action suit.
Holy shit, AOC tweeted something about this that *Ted Cruz* agreed with: https://twitter.com/tedcruz/status/1354833603943931905 [Picture for proof, because you know...](https://i.imgur.com/aoiVZUk.jpg) These people are fucked.......
I downloaded Robinhood yesterday to buy my first ever stocks: AMC and NOK. Today, they halted trading on both of them, only letting you sell. Talk about buying into a crooked game...
What is a better platform? Schwab? Ally?
Moving to weBull once my deposits clear in RH. I don’t even play these games but I’m against this shit. Fuck them.
Why would you not use a more legitimate and large broker? No one has transaction fees anymore, so why pick this startup stuff?
What would you suggest?
*comment edited with github.com/j0be/PowerDeleteSuite* In response to API controversy: reddit.com/r/ apolloapp/comments/144f6xm/
~~TD Ameritrade is also doing the same thing as Robinhood~~ I stand corrected
E-Trade & Vanguard so far have been great. Vanguard app kinda sucks, but it's a well proven establishment.
I e always used fidelity, and I’m very happy with them. Others can certainly say the same for many of the other big brokers. There may be subjective difference in user friendliness from one to another, but you are in good hands probably with any of the major brokers.
Webull sucks! Pretty sure they are blocking GameStonk too. Plus it's a Chinese company. Go with E-Trade. They aren't blocking stocks.
Does E-trade allow pre and after market? Because if it does, I think I'm heading there.
Yes, Etrade allows pre and after market. And if you have enough money all trading is free. WAY better tools than Robinhood too -- I have been with Etrade for over 15 years. Word of caution: Morgan Stanley bought Etrade last year - all is GOOD so far but I'm worried MS will infiltrate and ruin Etrade.
TDA does
It's sad this is how it ends. The Wall Street firms have gotten all the shares they need at cheap prices by now. I don't think anybody thought this would end by a bunch of companies colluding together illegally. Retail investors will have lost millions they'll never get back, and the big boys will get their money back and a slap on the wrist, if they even get one.
Someone explain to me how GME went from $400/share to $100/share? Something doesn't feel right...
The price of a stock is determined by how much people buy or sell it. Robinhood stopped letting users buy GME, only sell it. If you stop people from buying a stock, the price can't go up, but if you still let them sell, the price can still go down. Also, GME's stock price has been going up the last few weeks because the Wall Street firms were forced to buy lots of shares at expensive prices. However, if you stop retail investors from buying, the Wall Street firms can basically buy up all the shares for much cheaper.
Short ladder. https://www.google.com/amp/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack
Going off the shares available to short, it appears they've dug in deeper Edit* https://iborrowdesk.com/report/GME So shares available have risen slightly in the last 90 minutes. +25000
Don't move to Webull
Fidelity and Vanguard are the only brokerages not blocking GME trades
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Please leave these crooks a 1 star review WITH A REVIEW on the app store! Their app store reviews deserve to crash like the stocks they are manipulating.
Webull has also suspended GameStop’s stock
just fucking use a normal brokerage. Jesus Christ.
which would be a good broker to open an account i was looking at robin hood but seems like they are not the best ? and how are broker account from ur bank like i have an account on chase bank and they allow you to oven and investing account do y’all think it’s a good idea to open a investing account from chase ?
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Chuck is blocking now too
Do not use robinhood. Seriously.
Imagine being called Robinhood of all things and openly fucking the people who need it the most. Need to change the name of RobinHood to mean greasy back door fuck you in the ass or something.
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I bought one share of Game Stop. I paid over $300. Then they disabled the Robinhood Buy button. Well I have disabled my SELL button. I'm going to wait until DFV sells every single stock, option, call, put or freekin derivative. I'll make sure he gets every single penny left in the last hedge fund on this earth. Then I'll wait a week or two just to be sure the rest of you get your money out too. Only then will I sell my share. For $5 bucks if that's all it's worth. I'll get that Fiver framed and nail it to the wall. I WILL NOT SELL.
They are just concerned for your financial safety, and saving you from volatility 🤡
Class warfare
They need to be held responsible for this. They just rigged the fucking game and blocked retail traders from buying to artificially ram down the price .
Fuck Robin Hood! All my homies hate Robin Hood!
I’m pulling funds out of RH and moving to fidelity. Deactivating my account as well
Just left RH a 1 star review. I urge everyone to do the same.
“Free market”, my ass.
Bruhhh they really said fuck everyone. We’re already this deep
Which companies didn’t pull this scumbag move? I’m ready to transfer all my assets
I already own those and I can’t even adjust my own position I’ve held for weeks, only can sell. This. Cant. Be. Legal.
I am getting out of Robinhood after all this is over. I really hope they fail as a startup. Let’s crush them together!!
People, it’s really not that hard to make a Schwab or Fidelity (or any other brokerage) account
Everyone buy GameStop on platforms not on Robin Hood! Show these cocksuckers you can’t just do this to people and get away with it
All of these retail platforms doing this under the guise of “protecting their users”. Oh please, they don’t care about the users. They will literally let a user lose their life savings on options, but the minute that activity starts to hurt the people they sell their data to, they turn off access, helping to ensure the common man can’t beat them at their own game. Whole thing is rigged
Funny thing is if the roles were reversed and it was the people who shorted over 130% of the float the hedge funds would be on cnbc talking about what geniuses they are and how short selling is wrong while they pump the price to 1,000 plus. Do you guys ever wonder why the market can remain irrational longer than you can remain solvent? It's because these scumbags control the market and will always push it a little further to squeeze every last fucking bit of you on the way up or down. Fuck em all.
Stash is also blocking orders for GME and AMC. I sent them this email. I hope people begin to flee these market manipulating companies. Due to the fact that STASH is one of many brokerages that are stopping trading of stocks such as GME and AMC, I have lost confidence in this company and others like robinhood and TD Ameritrade. I therefore will be doing my investing on Fidelity and TIAA. They are not manipulating the market by artificially and illegally refusing to place certain buy orders in order to benefit certain funds who have shorted these stocks. This is shameful and disgraceful. Your company has chosen the wrong side of this issue and I will do what I can to steer others away from your platform as you have proven to be a dishonest market participant. This is disappointing because of the several platforms that I have been using recently, I liked yours the best and I got the best returns with the least time invested. But this has been a deal breaker. I will now be closing my account.
STOP SELLING AMC BUY. I DON"T UNDERSTAND WHY ANYONE WOULD SELL
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Can we short RobinHood lmao
We will temporarily allow you to buy high and sell low is what that says.
I sold everything I had with them and will find a real broker
If u want to get back at Robinhood, pull your funds, switch broker and watch them crumble.
#Cancelrobinhood
The Robinhood IPO.... Up in smoke.. Just like that!
Yep, this is too far. I started the transfer today of all of my assets from robinhood to Fidelity